STMicroelectronics hones in on key resistance at $51.85

• STMicroelectronics could slow down as it approaches resistance at $51.85
• Market price breaks 4 cents above key Fib handle of $51.35

The Dutch semiconductor maker rose as high as $51.76 before giving up its gains and dropping back to $51.39 before the close on yesterday.

The stock has been trending positively for about 3 months. Over the past 14 days, the Dutch tech company has retreated 7.1% from a noteworthy peak of $53.49.

With regards to technical trend indicators, chart analysis show that STMicroelectronics N.V. made an initial breakout above its 10 day Simple Moving Average at $51.35, a potential indicator of a newly emerging bullish phase. Crossed the $51.35 Fibonacci level, next level is at $51.86. Analysis based on the asset volatility indicates that STMicroelectronics's upper Bollinger Band® is at $53.44, this is a slight indication of a slowdown. STMicroelectronics's notable support and resistance levels: STMicroelectronics could be slowing down soon as it approaches resistance at $51.85. Of course, crossing it might suggest further gains are ahead.

All in all, the technical analysis suggests STMicroelectronics has no clear-cut direction.

Fundamental indicators – highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of -0.5%.

A look at other technology stocks also showed bullish price action as Apple traded at $165.56 after closing yesterday's trading day at $160.1 (up 3.41%). Microsoft added 2.24% to its value, and traded at $289.84. Adobe was up 2.41%.

Upcoming fundamentals: United States Core Retail Sales projected to decline to -0.3% while previous data was -0.1%; data will be released today at 12:30 UTC.